Caesars Entertainment unit files for Chapter 11 Bankruptcy

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Thursday, January 15, 2015
Caeser's Entertainment Files for Ch. 11 Bankcruptcy
Caeser's Entertainment Files for Ch. 11 Bankcruptcy

LAS VEGAS (WPVI) -- A cash-strapped division of casino giant Caesars Entertainment Corp. has filed for Chapter 11 bankruptcy protection.

This, in the hopes that a Chicago court agrees to its plan to get out from under $18.4 billion in debt.

The company operates Caesars and Bally's on the Atlantic City Boardwalk.

It also runs Harrah's Philadelphia, in Chester, Delaware County. That hotel is open for business and is not part of the Chapter 11 filing.

Gambling and other activities will also continue at Caesar's and Bally's in Atlantic City.

Company officials say the bankruptcy filing is part of a wider reorganization plan.


The Associated Press contributed to this article.